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Updated 2 hours ago

First & Banks

VERIFIED

705 1st Ave SW Rochester, MN

Studio - 3 Bed
•
1 - 2 Bath

532 - 1,739 Sq. Ft.

Available Now
Floor plans
Studio • 1 Bath
$1,625 - $1,775
532 ft2
5 Available
Managed By: First & B of Rochester LLC
Unit 722
$1,775
Available Now
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Unit 739
$1,775
Available Now
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Unit 439
$1,625
Available Now
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Unit 414
$1,705
Available Now
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Unit 514
$1,705
Available Now
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View Rented Units
Studio • 1 Bath
$1,795 - $1,945
711 ft2
8 Available
Managed By: First & B of Rochester LLC
Unit 716
$1,945
Available Now
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Unit 729
$1,945
Available Now
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Unit 329
$1,795
Available Now
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Unit 402
$1,795
Available Now
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Unit 416
$1,795
Available Now
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Unit 429
$1,795
Available Now
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Unit 516
$1,795
Available Now
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Unit 529
$1,795
Available Now
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1 Bed • 1 Bath
$1,825 - $1,905
696 ft2
8 Available
Managed By: First & B of Rochester LLC
Unit 607
$1,825
Available Now
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Unit 307
$1,825
Available Now
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Unit 309
$1,825
Available Now
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Unit 407
$1,825
Available Now
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Unit 509
$1,825
Available Now
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Unit 332
$1,905
Available Now
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Unit 334
$1,905
Available Now
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Unit 434
$1,905
Available Now
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View Rented Units
1 Bed • 1 Bath
$1,790 - $1,975
707 ft2
46 Available
Managed By: First & B of Rochester LLC
Unit 613
$1,825
Available Now
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Unit 615
$1,825
Available Now
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Unit 617
$1,825
Available Now
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Unit 621
$1,825
Available Now
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Unit 627
$1,825
Available Now
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Unit 631
$1,825
Available Now
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Unit 633
$1,825
Available Now
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Unit 635
$1,825
Available Now
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Unit 723
$1,975
Available Now
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Unit 727
$1,975
Available Now
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Unit 731
$1,975
Available Now
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Unit 733
$1,975
Available Now
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Unit 735
$1,975
Available Now
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Unit 427
$1,790
Available Now
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Unit 431
$1,795
Available Now
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Unit 313
$1,825
Available Now
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Unit 315
$1,825
Available Now
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Unit 317
$1,825
Available Now
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Unit 321
$1,825
Available Now
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Unit 323
$1,825
Available Now
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Unit 331
$1,825
Available Now
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Unit 335
$1,825
Available Now
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Unit 413
$1,825
Available Now
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Unit 417
$1,825
Available Now
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Unit 418
$1,825
Available Now
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Unit 421
$1,825
Available Now
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Unit 423
$1,825
Available Now
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Unit 433
$1,825
Available Now
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Unit 435
$1,825
Available Now
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Unit 513
$1,825
Available Now
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Unit 515
$1,825
Available Now
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Unit 517
$1,825
Available Now
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Unit 521
$1,825
Available Now
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Unit 523
$1,825
Available Now
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Unit 531
$1,825
Available Now
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Unit 533
$1,825
Available Now
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Unit 527
$1,825
Available Now
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Unit 326
$1,885
Available Now
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Unit 328
$1,885
Available Now
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Unit 330
$1,885
Available Now
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Unit 340
$1,885
Available Now
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Unit 426
$1,885
Available Now
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Unit 428
$1,885
Available Now
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Unit 430
$1,885
Available Now
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Unit 440
$1,885
Available Now
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Unit 528
$1,905
Available Now
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View Rented Units
1 Bed • 1 Bath
$1,930
701 ft2
4 Available
Managed By: First & B of Rochester LLC
Unit 638
$1,930
Available Now
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Unit 338
$1,930
Available Now
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Unit 438
$1,930
Available Now
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Unit 538
$1,930
Available Now
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View Rented Units
1 Bed • 1 Bath
$1,975 - $2,085
753 ft2
10 Available
Managed By: First & B of Rochester LLC
Unit 604
$2,015
Available Now
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Unit 606
$2,015
Available Now
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Unit 404
$1,975
Available Now
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Unit 406
$2,015
Available Now
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Unit 408
$2,015
Available Now
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Unit 410
$2,015
Available Now
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Unit 504
$2,015
Available Now
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Unit 508
$2,015
Available Now
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Unit 510
$2,015
Available Now
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Unit 704
$2,085
Available Now
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2 Beds • 2 Bath
$2,725
1084 ft2
3 Available
Managed By: First & B of Rochester LLC
Unit 641
$2,725
Available Now
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Unit 341
$2,725
Available Now
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Unit 541
$2,725
Available Now
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View Rented Units
2 Beds • 2 Bath
$2,730
1067 ft2
3 Available
Managed By: First & B of Rochester LLC
Unit 612
$2,730
Available Now
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Unit 412
$2,730
Available Now
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Unit 512
$2,730
Available Now
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View Rented Units
2 Beds • 2 Bath
$2,890 - $2,990
1203 ft2
4 Available
Managed By: First & B of Rochester LLC
Unit 625
$2,895
Available Now
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Unit 325
$2,890
Available Now
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Unit 425
$2,890
Available Now
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Unit 320
$2,990
Available Now
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View Rented Units
2 Beds • 2 Bath
$3,100
1394 ft2
1 Available
Managed By: First & B of Rochester LLC
Unit 637
$3,100
Available Now
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View Rented Units
2 Beds • 2 Bath
$2,995 - $3,150
1393 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 737
$3,150
Available Now
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Unit 437
$2,995
Available Now
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3 Beds • 2 Bath
$3,795
1280 ft2
4 Available
Managed By: First & B of Rochester LLC
Unit 636
$3,795
Available Now
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Unit 336
$3,795
Available Now
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Unit 436
$3,795
Available Now
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Unit 536
$3,795
Available Now
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3 Beds • 2 Bath
$3,195
1388 ft2
1 Available
Managed By: First & B of Rochester LLC
Unit 104
$3,195
Available Now
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3 Beds • 2 Bath
$3,875
1375 ft2
2 Available
Managed By: First & B of Rochester LLC
Unit 405
$3,875
Available Now
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Unit 505
$3,875
Available Now
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Where you'll live
Street View
Map View
Satellite View
First & Banks
First & Banks
First & Banks
Amenities
Fitness Center
Bike Storage
Fees & leasing info
Pets
Dogs Ok
Cats Ok
Lease & Fees
Security Deposit: $500
Property details
Description

Find the ultimate home sanctuary in Rochester, MN. First & Banks offers spacious studio, 1, 2 and 3-bedroom apartments with sophisticated finishes and all-inclusive access to intentional on-site amenities. The property also features premium two-story walk-out units and seventh-floor penthouse units with upgraded finishes.
The pet-friendly community is located three blocks from the Mayo Clinic and within walking distance to downtown. Enjoy park views and access to walking paths, tennis courts, a playground and a recently completed aquatics center.
Unit features: elevated 9-foot ceilings, walk-in closets, in-home washer & dryer, upgraded painted cabinetry, open-concept living spaces and stainless steel appliance package. Select units have upgraded finishes and features.
Community amenities: fitness & yoga studio, third-story amenity deck with grilling stations and spa, grab-and-go mini market, grand lobby with dedicated mail and package room, bike storage, community clubroom with kitchen and fireplace, multi-sports simulator, pool table, outdoor courtyard, exclusive seventh-floor amenity deck and clubroom and makers crafting room.

Additional Details
Total Unit Count: 219
Last Updated: Updated 2 hours ago
Contact Number: (507) 516-1027 ext: 5
Internet Providers
Provider Max Download Speed (Mbps) Max Upload Speed (Mbps)
Charter Communications 940.0 35.0
ViaSat, Inc. 100.0 3.0
Hiawatha Broadband Communications, Inc. 40.0 10.0
Hughes Network Systems, LLC 25.0 3.0
CenturyLink, Inc. 15.0 0.75
Data from June 2020 provided by the FCC
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Photos Floor Plans Amenities
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Lofts At Mayo Park
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2 BR | Jul. 14, 2026
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2 BR | Jul. 10, 2026
0.4 miles away
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Affordability
To comfortably afford an apartment, we recommend having at least three times your monthy rent in gross household income.
View suggested annual incomes for First & Banks by bedroom type below.
Studio
Suggested income:
$64,400
per year
1 Bedroom
Suggested income:
$67,700
per year
2 Bedroom
Suggested income:
$111,200
per year
3 Bedroom
Suggested income:
$134,400
per year
Rent report

First & Banks Rent vs. Rochester Average

 First & Banks      Rochester Average
Studio
$1,788
$1,496
$0
$600
$1,200
$1,800
$2,400
1BR
$1,881
$1,652
$0
$650
$1,300
$1,950
$2,600
2BR
$3,090
$2,033
$0
$1,050
$2,100
$3,150
$4,200
3BR
$3,732
$2,489
$0
$1,250
$2,500
$3,750
$5,000

First & Banks is asking 20% more than the average studio apartment in Rochester.

If you upsized to an average priced Rochester 1 bedroom apartment, you would pay 9% more per month.

First & Banks provides 12% more square footage than the average Rochester studio apartment.

Monthly Rent Rent per Sq. Ft. Suggested
Monthly Income
First & Banks
Studio $1,788 $2.80 $5,364
1BR $1,881 $2.60 $5,644
2BR $3,090 $2.50 $9,270
3BR $3,732 $2.80 $11,196
Rochester Average
Studio $1,496 $2.60 $4,488
1BR $1,652 $2.30 $4,957
2BR $2,033 $1.90 $6,100
3BR $2,489 $1.60 $7,468
4BR $2,858 $1.20 $8,575

Availability in Rochester

In order to find the best deal, you need to know what types of units are available. Property managers may be willing to give concessions if they have many vacant units.

There are currently 231 1BR units on the market in Rochester. If you're looking to negotiate, this may be your best option.

Studio
1BR
2BR
3BR
4BR
7% 42% 40% 7% 4%
Available Units in Rochester
Studio 39
1BR 231
2BR 219
3BR 40
4BR 21
Location
Nearby College

Rochester Community And Technical College

Nearby Hospitals
Name Distance
Mayo Clinic Hospital Methodist Campus 0.59 mi.
Mayo Clinic Hospital Rochester St Mary's Campus 0.95 mi.
Olmsted Medical Center 1.31 mi.
Nearby Fire Stations
Name Distance
Rochester Fire Department 4.34 mi.
Rochester Airport Fire Department 4.34 mi.
Rochester Airport Fire Department 7.23 mi.
FAQs
Is this property currently leasing units?
Yes. There are 119 available units at this property.
How many units are move-in ready in the next 2 months?
This property has 119 units vacant and ready for immediate occupancy.
What's the square footage of the available units?
The available units range from 532 to 1,739 square feet.
Does this property allow cats or dogs?
This property allows tenants to keep cats and dogs.
How many bedrooms are in the available units?
There are studio, 1, 2 and 3 bedroom units available.
How many bathrooms are in the available units?
There are 1 and 2 bathroom units available.
What's the monthly rent at this property?
Rent on available units ranges from $1,625 to $4,000. First & Banks has studio units available starting at $1,625, 1 bedroom units available starting at $1,790, 2 bedroom units available starting at $2,650, and 3 bedroom units available starting at $3,195.
Where is this property located?
This property is at 705 1st Ave SW in Rochester, MN. It's 0.4 miles southwest from the center of Rochester.
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